Basics
Sectors
Development
Organizations
Other
100
The total value of goods and services produced within a country during a given year
Gross Domestic Product (GDP)
100
This sector is most dominant in less developed countries/periphery countries
Primary
100
Trade in which certified, equitable prices are paid to producers in less developed countries (So workers are not taken advantage of)
Fair Trade
100
The organization that acts as a neutral, international peacekeeping body. They are responsible for creating and implementing the SDGs
The United Nations
100
A score of _____ would indicate the highest levels of development in the development indices
1.0 (closer to 1 = more developed)
200
The total value of goods and services produced within and outside of a country during a given year
Gross National Product (GNP)
200
Waiter, Accountant, Lawyer, Teacher, Doctor, Janitor etc.
Tertiary
200
A farm, business, or other organization that is owned and run jointly by its members, who share the profits or benefits.
Cooperative
200
The organization that oversees emergent and ongoing economic matters and provides loans to countries that will need to be paid back at some point
International Monetary Fund (IMF)
200
He theorized that all countries would develop through the same 5 stage process over time, like the U.S and European countries.
Rostow
300
Assembly line production is also known as _______ production
Fordist (after Henry Ford)
300
Toy manufacturing, oil refining, assembly lines, etc.
Secondary
300
International trade left to its natural course without tariffs, quotas, or other restrictions. Open markets. (NAFTA, Mercosur, the EU etc.)
Free Trade
300
This organization oversees trade and trade agreements between countries
World Trade Organization
300
Who theorized that the world's economies are linked through a complex system of inter-dependency, known as World Systems Theory
Wallerstein
400
When a set of jobs can have the effect of creating other jobs in the surrounding area due to increased population, disposable income etc. it is known as...
The Multiplier Effect
400
President, CEO, Prime Minister, Representative etc.
Quinary (subtype of the tertiary sector)
400
What 3 indicators are measured within the Human Development Index (HDI) ?
life expectancy, education (mean/expected), and income (GNI).
400
The bank credited with the first microfinance program, headquartered in Bangladesh.
Grameen Bank
400
When countries focus on producing what they’re best at and trade for the rest.
Comparative Advantage
500
This term refers to when the value of money is equalized for the effect of being able to determine how much value money has when buying a product in different countries
Purchasing Power Parity (PPP)
500
Scientist, Geographer, Development Research Analyst etc.
Quaternary (subtype of the tertiary sector)
500
The Brandt Line
500
The organization that works to address economic issues specifically in less developed countries and concerning poverty around the world by providing loans and financial aid
The World Bank
500
List the 5 Stages of Rostow's Model of Economic Growth
1- Traditional
2- Transitional (Pre-conditions to Takeoff)
3- Takeoff
4- Drive to Maturity
5- High Mass Consumption